Trust Administration and Probate

If you have been asked to serve as a trustee, you are agreeing to a take on a very important responsibility. The services of a trustee are critical to successful Los Angeles trust administration. As the trustee, you are the individual responsible for ensuring that the requirements set out in the trust agreement are satisfied.  The trustee is also responsible for managing the assets that have been placed in trust, as well as maintaining accurate records of all transactions that involve the trust … [Read more...] about Everything You Should Know About Orange County Trust Administration

Trusts are very useful estate planning tools that provide a way to save money and other property for a chosen beneficiary. Some trusts have a particular purpose, such as providing future support for a loved one with special needs. Your chosen trustee will hold and manage the property, making that person responsible for seeing that the terms of the trust are fulfilled. Trustees of special needs trusts have unique issues when it comes to trust administration. One of them is the use of prepaid … [Read more...] about Special Needs Trust Administration and the Use of Prepaid Debit Cards

A living trust is a very useful estate planning tool that you should consider including in every estate plan.  However, before you take that step, there are a few common myths regarding living trusts of which you should be aware.  This article will debunk three of the most common myths. For a complete understanding of how this estate planning tool can benefit you, discuss your options with your living trust attorney. MYTH: A Living Trust Requires You to Give Up Control of your Property While … [Read more...] about Dispelling the Most Common Myths About the Living Trust

Some clients choose to create a revocable living trust as the basis of their estate plan, as opposed to the last will and testament. Trusts are typically used because they allow estates to avoid probate. Many clients wonder which is better – probate or trust administration. Our Los Angeles and Orange County trust administration attorneys can explain some of the differences to help you make that important choice. Understanding the differences One of the big differences between the … [Read more...] about Trust Administration Vs. Estate Probate: Which is Better?

The benefits of owning timeshare property are many.  The majority of timeshare owners also wish to pass on that valuable property to their children when they die.  However, timeshare ownership is not as straightforward as owning your home, or even owning a summer home.  So, if you are considering establishing a trust as part of your estate plan, you should understand how funding a timeshare affects trust administration. The benefits of funding a timeshare to your trust If you have a living … [Read more...] about Trust Administration and Timeshares in California

As Orange County trust administration attorneys, we frequently receive calls from beneficiaries who have just received notice that they have been named in a trust. There are a few things that can be useful to understanding the process if you are a trust beneficiary Here is a guide to help trust beneficiaries through the complex process of trust administration. Read the entire trust document and all amendments In California, every trust beneficiary is entitled to a copy of the trust agreement … [Read more...] about What Trust Beneficiaries Should Expect from Trust Administration

Trust and estate litigation can become an issue for several different reasons. Not every dispute will necessarily lead to litigation in court, but there are some issues that are more likely to bring people to court than others. Whether you are facing litigation initiated by someone else or you are considering filing a lawsuit yourself, our Orange County trust and estate litigation attorneys are here to help. Mismanagement of a Trust One of the most important aspects of creating a trust is … [Read more...] about What is Trust and Estate Litigation and Can I Avoid It?

Trust administration can be a very challenging responsibility, particularly when a special needs trust is involved. Some of the rules that apply to a special needs trust can be both complex and bewildering. One of the most important considerations with administering a first-party special needs trust is the beneficiary designation. With these particular types of trust, the sole benefit rule can have very important consequences. Depending on the beneficiary designation, needs-based benefits could … [Read more...] about How Does the Sole Benefit Rule Affect Trust Administration?

Often, an important part of Los Angeles trust administration is distributing real estate. Being a trustee can bring with it some unique issues when it comes to the distribution of personal property and, particularly, real estate. There are certain considerations that should be made when real estate is involved and our trust attorneys can explain some of the issues you may face. Tip #1 - Determine what the beneficiaries actually want to do with the property The first step in determining how to … [Read more...] about Tips for Managing Real Estate in Your Los Angeles Trust Administration

Trust administration requires a responsible trustee to keep the process moving in the right direction. One question that clients often ask is whether they can appoint their trust lawyer as their trustee. There are a few ethical considerations, including conflicts of interest and fiduciary duty which should be thought through.  Here is some good information that may help you make this particular decision. Choosing your trustee to handle your trust administration The trustee serves a crucial … [Read more...] about Trust Administration: Should Your Lawyer Be Your Trustee?